Spain's inflation rises to 3%, highest in eight months
Spain's consumer price inflation rose to 3% in February, the highest level in eight months, driven by an increase in electricity costs, according to flash data from the national statistics office (INE). This was up from 2.9% in January and marked the highest inflation since June 2024. The EU harmonized inflation remained steady at 2.9%, slightly above the expected 2.8%.
- Economy
- DPA
- Published Date: 03:46 | 27 February 2025
- Modified Date: 03:46 | 27 February 2025
Spain's consumer price inflation accelerated further in February to the highest level in eight months amid an increase in electricity costs, the flash data published by the statistical office INE showed on Thursday.
Consumer price inflation rose slightly to 3% in February, as expected, from 2.9% in January. Further, this was the highest inflation since June 2024, when prices had risen 3.4%.
The EU harmonized inflation held steady at 2.9% in February versus an expected rate of 2.8%. The statistical office said the increase in annual inflation largely reflects the increase in electricity prices compared to the fall in February 2024.
Meanwhile, underlying inflation eased to 2.1% from 2.4% a month ago.
On a monthly basis, consumer prices increased 0.4%, following a 0.2% drop in January. Prices were expected to increase by 0.3%. The harmonized index rebounded 0.4%, as expected.